Urgent Call for Petrol Price Reversal: Minority Caucus Demands Action....KINDLY READ THE FULL STORY HERE▶

The Minority Caucus of the House of Representatives has urgently called for the reversal of the recent petrol price increase, expressing deep concern about the potential for heightened suffering among Nigerians. In a statement released on Thursday, the caucus criticized the unilateral decision to raise the price of Premium Motor Spirit, highlighting that such actions neglect the principles of transparency, accountability, and fairness vital for decisions affecting the lives of citizens.

Minority Leader Kingsley Chinda, who authored the statement titled “Reverse Petrol Prices Now,” urged the President to take immediate measures to address the link between Nigeria’s dire economic conditions and the increasing social unrest. He emphasized that instead of worsening these conditions, the government should work to alleviate the challenges faced by the populace.

Chinda’s statement underscored the severe economic challenges currently facing Nigeria, including soaring inflation, high unemployment rates, and the depreciating value of the Naira. He warned that any further rise in petrol prices would only add to the struggles of the average Nigerian. The ripple effects of such increases would significantly impact transportation, food costs, and essential goods and services, ultimately eroding the fragile purchasing power of millions and pushing more families deeper into poverty.

The statement further criticized the decision by the Nigerian National Petroleum Corporation (NNPC), suggesting that it was made without proper consultation with key stakeholders, including the National Assembly, which represents the interests of the people. The caucus highlighted that this unilateral action not only lacks transparency but also undermines the principles of fairness necessary in governance.

Chinda pointed out that the current economic hardships have triggered widespread protests, as citizens demand relief and accountability from those in power. He warned that economic instability could quickly escalate into broader social and political unrest. He called for collaboration among all stakeholders—government, businesses, and civil society—to tackle these economic challenges before the situation deteriorates further.

Highlighting the consequences of neglecting the population’s needs, the Minority Leader referenced past destructive protests against poor governance triggered by severe economic conditions. He urged the Federal Government to act swiftly to reverse the recent petrol price hike and to explore more sustainable measures aimed at stabilizing the economy without further burdening the citizens.